The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.

To All Depository Institutions, and Others Concerned, in the Second Federal Reserve District:

Due to a 48-hour general strike called by local labor unions in Puerto Rico on July 7-8, 1998 ("the emergency condition") and its effects on transportation systems, including access to the airports for loading and unloading cash item shipments, delays have occurred in the presentment of cash items, in the return of unpaid items, and in the forwarding of advices of nonpayment with respect to depository institutions in Puerto Rico and the Virgin Islands. In view of the emergency condition, effective immediately and until such time as conditions permit us to resume presenting and returning cash items, this Bank will defer credit for items drawn on, or cash items returned to, depository institutions having routing numbers with 0215, 0216, 2215, and 2216 prefixes.